Fuego de Dardo

The land area and neighborhoods within the proposed Hollowell/M.L. King TAD boundaries have been examined and analyzed to determine the area's eligibility for inclusion in a redevelopment area under the Georgia Redevelopment Powers Law. As described in the section immediately preceding with respect to specific Redevelopment Powers Law definitions and criteria, a recent analysis of physical, land use and market conditions in the proposed Hollowell/M.L. King TAD findings reveal that this area is economically and socially depressed, with conditions contributing to social ills that have a deleterious effect upon the economic health and safety of the

immediate and surrounding communities.

As described in the preceding section, Hollowell/M.L. King qualifies as a redevelopment area under the

Redevelopment Powers Law due to its meeting most

of the general criteria cited in that Law. The overall purpose of the Hollowell/M.L. King TAD is to address and resolve those key challenges, conditions and barriers to private investment and development. As is substantiated in the “Key Findings within the Redevelopment Area,” the Hollowell/M.L. King area qualifies as a redevelopment area and for a Tax Allocation District designation due to factors relating to (A)-(C) and (E)-(H) of 36-44-3 of the Redevelopment

Powers Law, listed immediately above. Specific

portions applicable to the Hollowell/M.L. King Redevelopment Area are as follows:

1. The dilapidation, deterioration, age, or

obsolescence of structures, buildings, or improvements (Criterion A);

„ Structural Age and Deterioration: The

majority of the retail buildings and

apartments were constructed between 25 and 50 years ago. They have experienced

only minor improvements since that time. Consequently, they are out of date and have become somewhat dilapidated as a result of the passage of time and frequent use.

„ Inefficient and Obsolete Commercial

Design and Layout: The commercial centers and freestanding structures along Hollowell/M.L. King are inefficient with respect to site use and density. Most are considered unattractive with respect to current retailer standards and obsolete with respect to consumer market appeal. Parking is inefficient, and store frontage and signage are below current market standards and design.

2. The predominance of defective or inadequate

street layout, inadequate parking, roadways, bridges, or public transportation facilities incapable of handling the volume of traffic flow into or through the area, either at present or following proposed redevelopment (Criterion B);

„ Congested Access and Egress: The current

design and layout of Hollowell/M.L. King at major intersections at Center Hill, James Jackson Parkway and Woodmere, as well as the area’s internal network of feeder roadways are not conducive to the efficient flow of traffic into and out of the existing or contemplated retail, office and mixed-use projects in that area. The currently inadequate network of interior and residential streets within the area will become even less capable of handling both community and pass-through traffic.

3. Faulty lot layout in relation to size, adequacy,

accessibility, or usefulness (Criterion B);

„ Inefficient and Obsolete Commercial Design

and Layout: The commercial centers and freestanding structures along Hollowell/M.L. King are inefficient with respect to site use and density. Most are considered

unattractive with respect to current retailer standards and obsolete with respect to consumer market appeal. Parking is

inefficient, and store frontage and signage are below current market standards and design.

4. Any combination of the foregoing that substantially

impairs or arrests the sound growth of the community retards the provisions of housing accommodations or employment opportunities (Criterion B);

„ Underachievement as Employment Center:

Current employment opportunities are limited in the Hollowell/M.L. King TAD. There are few professional or business services offered in the area, nor are there any corporate or professional firms. Retail and service industry employment is constrained by the lack of competitive retail offerings and restaurants.

5. Any combination of the foregoing that constitutes

an economic or social liability in its present conditions and use (Criterion C);

6. Substantial underutilization due to containing open

lots or parcels of land, a substantial number of buildings or structures which are 40 years old or older, or structures or buildings of relatively low value as compared to the value of structures or buildings in the vicinity (Criterion E);

„ Lack of Retail Market Appeal: As reflected in both rent and sales, the

limited number of retail businesses within the proposed Hollowell/M.L. King TAD do not have the brand recognition, product offerings, marketing capacity, pricing, merchandising or basic critical mass to appeal to the increasingly affluent potential customer within either the primary or secondary retail markets. When developed as contemplated in this redevelopment plan, the area in question will accommodate more primary market retailers and service providers whose business operations will significantly benefit the Hollowell/M.L. King and surrounding communities and will encourage the patronage of consumer markets located throughout Northwest Atlanta.

„ Lack of Rental Revenue Generation: Commercial rental rates in the

Hollowell/M.L. King Area are significantly below those achieved in developing Intown neighborhoods and corridors north (Marietta Street Corridor), east (Downtown, Edgewood-Auburn corridor, Midtown) and south (West End, Atlanta University Center area, Stadium neighborhoods) of the Hollowell/M.L. King area.

„ Economic Underutilization of Developable Land: A significant

proportion of developable land within the area is underutilized with respect to potential density, type of development and/or resulting market and taxable values.

7. Any geographic area designated within the comprehensive plan of a

political subdivision for redevelopment which has previously been developed for commercial, residential, industrial, office, or similar or ancillary uses and which lies within the service delivery area of the political subdivision, in which the current condition of the area is less desirable than the redevelopment of the area and which the local legislative body designates as appropriate for community redevelopment (Criteria E and F);

„ City Redevelopment Priority: The Hollowell/M.L. King area has been

designated as an area appropriate for redevelopment in the City of

Atlanta Comprehensive Plan. Additionally, the City formally adopted

2003 Donald L. Hollowell/M.L. King Redevelopment Plan. The Comprehensive Plan is updated on an annual basis, and the recommendations of this plan are anticipated to be considered during the update process.

8. Current area condition that is less desirable than the redevelopment of the

area for new commercial, residential, industrial, office, or other uses, or a combination of uses, including the provision of open space or pedestrian and transit improvements (Criterion F); and

„ Lack of Retail Market Appeal: As reflected in both rent and sales, the limited number of retail businesses within the proposed Hollowell/M.L. King TAD do not have the brand recognition, product offerings, marketing capacity, pricing, merchandising or basic critical mass to appeal to the increasingly affluent potential customer within either the primary or secondary retail markets. When developed as

contemplated in this redevelopment plan, the area in question will accommodate more primary market retailers and service providers whose business operations will significantly benefit the Hollowell/M.L. King and surrounding communities and will encourage the patronage of consumer markets located throughout Northwest Atlanta.

„ Lack of Rental Revenue Generation: Commercial rental rates in the Hollowell/M.L. King Area are significantly below those achieved in developing Intown neighborhoods and corridors north (Marietta Street Corridor), east (Downtown, Edgewood-Auburn corridor, Midtown) and south (West End, Atlanta University Center area, Stadium

neighborhoods) of the Hollowell/M.L. King area.

„ Economic Underutilization of Developable Land: A significant proportion of developable land within the area is underutilized with respect to potential density, type of development and/or resulting market and taxable values.

9. An area connecting two or more urbanized or developed areas that has been subject to some development but which has inadequate roadways, bridges, or public transportation or transit facilities incapable of handling the volume or traffic or passenger flow in or through the area in a safe and efficient manner either at present or following proposed redevelopment (Criterion G).

„ Congested Access and Egress: The current design and layout of

Hollowell/M.L. King at major intersections at Center Hill, James Jackson Parkway and Woodmere, as well as the area’s internal network of feeder roadways are not conducive to the efficient flow of traffic into and out of the existing or contemplated retail, office and mixed-use projects in that area. The currently inadequate network of interior and residential streets within the area will become even less capable of handling both community and pass-through traffic.

10. Any combination of criteria listed above (Criterion H).

As described in the preceding section, Hollowell/M.L. King qualifies as a redevelopment area under the Redevelopment Powers Law due to its meeting most of the general criteria cited in that Law. The overall purpose of the Hollowell/M.L. King TAD is to address and resolve the key challenges, conditions and barriers to private investment and development.

The fundamental purpose of the Hollowell/M.L. King TAD Redevelopment Plan is to address the conclusion that the proposed Hollowell/M.L. King TAD area has not been subject to growth and development through private enterprise and cannot reasonably anticipate development without approval of this Redevelopment Plan.

It is essential that all available incentives, including the TAD, be offered throughout the City of Atlanta – and particularly in declining areas such as the Hollowell/M.L. King – in order to balance the development potential of this entire area, thus enhancing the competitiveness of City of Atlanta neighborhoods in attracting business and investment.

The calculations contained later in this report, under “Positive Tax Allocation Increment,” indicate the extent to which additional taxes may be generated by new development and rehabilitations on the sites proposed. The potential increase in long-term tax dollars indicates that a tax redevelopment strategy in the City’s Southside communities, as provided for by the

Redevelopment Powers Law in a TAD, could generate substantial assistance in relieving the

deteriorating effects of the generally stagnant pockets of this area. The linkages it would

generate would improve an economic impact felt not only within the Redevelopment Area, but in adjacent areas as well.

Key Findings of Property Conditions within the Hollowell/M.L.